Taiwan’s life insurance market to hit $91.6bn in 2027

Written by Adam Cadle

28/07/2023

Taiwan’s life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 3% from TWB2.3trn ($77.7bn) in 2023 to TWD2.6trn ($91.6bn) in 2027, in terms of direct written premiums (DWP), GlobalData has revealed.

The growth is expected to be driven by an improvement in the global macro-economic situation, an increase in interest rates and positive regulatory developments.

However, the industry is expected to decline by 2% in 2023 due to a prolonged period of low-interest rates and a lack of innovation in product offerings.

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